At his first Cabinet meeting of 2026, President Donald Trump celebrated what he called “the most successful year of any administration in American history,” highlighting economic growth, military achievements, and policy changes. Trump announced breakthrough “Most Favored Nation” drug pricing agreements with 16 of 17 major pharmaceutical companies that he claims will reduce prescription costs by 75-90 percent, confirmed that commercial airspace over Venezuela will reopen following recent military operations, and announced federal intervention in Los Angeles wildfire permitting after a year-long rebuilding impasse. The president also revealed plans to announce a new Federal Reserve Chair next week, criticized current Fed policy as “politically biased,” and emphasized that coal-fired power plants prevented hundreds of deaths during the recent extreme cold snap after his administration stopped 17 gigawatts of planned closures.
Fact-Check Note: While several economic claims are verified (including record-low murder rates and the S&P 500 reaching 7000), Trump’s assertion that “$18 trillion is being invested” is highly exaggerated according to Associated Press fact-checkers, with the White House’s own website listing $9.6 trillion. His claim about Los Angeles having “like three houses being built” is contradicted by county data showing approximately 3,100 permits issued as of January 29.
Assistance from Claude AI.
Participants
- Donald Trump – President of the United States
- JD Vance – Vice President of the United States
- Scott Bessent – Secretary of the Treasury
- Robert F. Kennedy Jr. – Secretary of Health and Human Services
- Brooke Rollins – Secretary of Agriculture
- Chris Wright – Secretary of Energy
- Pete Hegseth – Secretary of Defense (Secretary of War)
- Lee Zeldin – Administrator, Environmental Protection Agency
- Kelly Loeffler – Administrator, Small Business Administration
- Scott Turner – Secretary of Housing and Urban Development
- Howard Lutnick – Secretary of Commerce
- Sean Duffy – Secretary of Transportation
- Steve Witkoff – Special Envoy to the Middle East
- Pam (last name not specified) – Cabinet member (department not identified)
- Doug (last name not specified) – Department of Interior Secretary
Comprehensive Meeting Breakdown
Economic Performance and Growth Projections
Trump opened the meeting by declaring the first year of his second term “the most successful year of any administration in American history,” citing multiple economic indicators. He stated that GDP growth reached 5.4 percent in the fourth quarter according to Atlanta Fed predictions, though he claimed this would have been 7 percent without the Democrat shutdown.
FACT-CHECK: The Atlanta Fed’s GDPNow model did estimate Q4 2025 real GDP growth at 5.4% on January 8, 2026. However, by January 29 (the day of this Cabinet meeting), this estimate had been revised down to 4.2%, which Trump did not mention.
The president emphasized that the S&P 500 hit 7000 for the first time ever, and markets have set 52-53 all-time record highs since the election, adding $9 trillion in value to retirement accounts and 401(k)s.
FACT-CHECK VERIFIED: The S&P 500 did cross the 7,000 threshold for the first time on January 28, 2026, the day before the Cabinet meeting, reaching an intraday high of 7,002.28.
Trump contrasted his administration’s investment record with the previous administration: “After four years in which Biden got much less than $1 trillion of investment into our country… in 11 months, we’ve taken in more than $18 trillion.”
FACT-CHECK – HIGHLY EXAGGERATED: The Associated Press fact-check found this $18 trillion figure lacks evidence and is “exaggerated, highly speculative and far higher than the actual sum.” The White House’s own website lists $9.6 trillion, and even that figure appears to include commitments made during the Biden administration. A study published January 2026 raised doubts about whether more than $5 trillion in announced commitments will materialize.
Secretary Bessent provided additional economic context, stating that growth was 4.7-4.8 percent in the past two quarters, representing the “biggest back to back gains in a decade.” He highlighted improvements in government finances, with the calendar year budget deficit declining from 7 percent of GDP to 5.4 percent – “the biggest decline since 2014.” Bessent emphasized that core inflation over the past three months measured just 1.6 percent, with Consumer Price Index at 2.1 percent, potentially trending below 1 percent due to energy and pharmaceutical price reductions.
Commerce Secretary Lutnick reinforced the growth narrative: “No one before you walked in the door thought our economy could grow two percent. Fourth quarter with the shutdown 5.5 percent. And that means the first quarter, you could see the United States of America with its $30 trillion economy grow in the six percent range.”
Steel Production and Manufacturing Renaissance
Trump highlighted a significant milestone in American manufacturing: for the first time in 26 years, the United States produced more steel than Japan. Secretary Bessent credited this achievement “entirely” to Trump’s tariff policies.
FACT-CHECK VERIFIED: U.S. crude steel production reached 82 million tons in 2025, surpassing Japan’s 80.7 million tons for the first time since 1999 (26 years ago), according to the World Steel Association. The U.S. became the world’s third-largest steel producer after China and India.
Trump emphasized that tariffs have driven a manufacturing resurgence, with plants returning from Mexico, Canada, Japan, and Germany to avoid paying 15-25 percent tariffs. The president detailed his conversation with Ford Motor Company leadership during a recent Detroit visit. He explained that Ford had planned to close a factory “a couple of years ago,” but kept it “barely going” when Trump’s electoral prospects improved. During Trump’s visit, Ford announced round-the-clock production at the facility, which company executives said they “never thought was possible.”
Trump also discussed John Deere’s announcement of two massive new plants in Indiana and North Carolina, including one for excavators – “there hasn’t been an excavator built in this country in 50 years.” When Trump asked the John Deere chairman why they were building in the U.S., the executive responded: “because of you and because of tariffs… if we didn’t have tariffs, would you be doing it? He said absolutely not.”
Most Favored Nation Drug Pricing Agreement
Trump devoted substantial time to explaining his Most Favored Nation pharmaceutical pricing policy, which he characterized as “one of the best achievements we’ve had in this country in a long time.” The policy requires pharmaceutical companies to sell drugs in the United States at prices no higher than the lowest prices offered in other developed nations.
Trump described the negotiation process in detail, explaining that drug companies initially agreed to the concept but believed foreign governments would never approve price increases in their countries. Trump used tariff threats to secure compliance: “When I got them on the phone, I said if you don’t do it, we’re going to charge you very substantial tariffs, more money than that’s going to cost you. And they said we’ll do it.”
The president recounted his conversation with French President Emmanuel Macron: “He said no, no, Donald, I will not do this. I will not. I won’t even consider it. You’re asking me to double the price.” Trump responded: “I said, well, if you don’t do it, I’m going to charge you a 25 percent tariff on all of your wine, champagne and everything else you sell into the United States. He said, like I said, I will do it and that was the end of the conversation.”
FACT-CHECK – PARTIALLY IMPLEMENTED BUT OUTCOME UNCERTAIN: RFK Jr. confirmed agreements with 16 pharmaceutical companies and announced “TrumpRx” would launch “probably in the next 10 days” from the January 29 meeting. However, the actual implementation and price reductions have not yet been demonstrated. Previous administrations (Clinton, Obama, Biden) attempted similar policies without success. The specific claims about conversations with Macron and tariff threats cannot be independently verified.
HHS Secretary Kennedy provided implementation details: “We now have agreements with 16 of the 17 drug companies… Clinton had promised to do this, Biden had promised to do this, Obama, Bush had all promised to do it. None of them succeeded. It was regarded as impossible.” Kennedy emphasized Trump “made it 10 times harder” by requiring companies to “reshore their production to this country” while ensuring the U.S. “continue to lead the world in innovation.”
The policy will launch through “Trump Rx” within approximately 10 days, giving “every American… the lowest prices in the developed world.” Kennedy noted that following agreement announcements, pharmaceutical company stock prices increased by $1.3 trillion collectively, indicating market approval of the arrangements.
Trump used a personal anecdote to illustrate pricing disparities involving his “seriously overweight” friend taking weight-loss medication: “He was in London, and he said it cost $87 there. It cost $1,300 in New York.”
Trump reported that Eli Lilly is building six new plants including an API (Active Pharmaceutical Ingredient) facility, Novo Nordisk is building four new plants, and Merck and Pfizer are also building domestic facilities. Kennedy explained the strategic importance: “The next time that we have a pandemic in this country, we’re not going to be stuck buying API from China who cuts us off. We’re going to be able to make it right here.”
The president emphasized he had threatened these companies with “100 percent, 200 percent, 300 percent” tariffs in two or three years if they don’t complete their U.S. plants before he leaves office, saying “they’re all building their little hearts out.”
Health Care and Food Policy Reforms
Secretary Kennedy outlined multiple health care initiatives beyond drug pricing. He announced $10 billion was distributed to states last week for rural health care, with money flowing to rural hospitals “sometime in the next two weeks.” Kennedy stated Trump is “raising the influx of federal dollars to rural health care by 30 percent over the next five years,” allowing rural facilities to “rebuild their decaying infrastructure, to retain providers and also to revolutionize the use of AI and other technologies.”
Kennedy and Agriculture Secretary Rollins released new dietary guidelines that “have received incredible acclamation from both sides of the aisle.” Kennedy explained that Rollins “gives away $405 million a day to buy food for Americans in the WIC program, the Head Start program, SNAP, school lunches, the VA and the military. They’re now going to be getting real food for the first time.”
Rollins implemented a requirement that “every store in this country that accepts food stamps to double the amount of real food that they’re selling,” which Kennedy said “is going to drive change in the market and it’s going to lower the cost of meats, of proteins, of whole grains, of fruits and vegetables.” The rationale: “70 percent of American kids now… 70 percent of the diet of American kids is now ultra processed foods. That’s why we’re spending $5 trillion in treating chronic disease in this country every year.”
Kennedy reported major progress on prior authorization reform: “Now we have 80 percent of the insurance industry that has agreed to eliminate prior authorization in almost all of their procedures… When you go to your doctor, your point of care, before you leave that office, you will know whether the insurance company is going to pay for the procedure or not.”
On price transparency, Kennedy stated: “We brought more enforcement actions against hospitals in this one year than the Biden administration brought in four years… by the time that we leave office, every American is going to have that guarantee” of knowing medical prices before receiving care.
Kennedy also announced the administration has “commissioned now dozens of studies, maybe over 100” on autism causes and prevention.
Affordable Care Act Restructuring
Trump proposed a fundamental restructuring of health insurance subsidies: “We want that money to go to the people that buy their own health care… instead of giving the insurance companies the money, it’ll go into a health care savings account or whatever it is.” He explained the concept emerged from observing insurance company profits: “Their stock has gone up by 1,400 percent… One went up 1,700 percent… it’s all because of the money, not all, but mostly because of the money the United States pays the insurance companies.”
Trump acknowledged political obstacles: “The problem we have is the Democrats are owned by the insurance companies. They literally owned lock, stock and barrel by the insurance companies.” However, he expressed optimism based on public response: “I put it out, it went viral… became the biggest story… The people love it, including all Democrats.”
Venezuela Military Operation and Reconstruction
Trump provided an update on recent military operations in Venezuela, thanking General Caine and stating “nobody’s ever seen anything like it.” Following the operation, Trump announced he had instructed Transportation Secretary Duffy to open commercial airspace over Venezuela by the end of the day, allowing American citizens to travel there safely.
FACT-CHECK – LARGELY ACCURATE WITH CONTEXT: The U.S. did conduct a military operation in Venezuela on January 3, 2026, resulting in the capture of President Nicolás Maduro. The FAA had restricted Venezuelan airspace following the operation. Trump did meet with oil executives about Venezuela’s oil sector. However, the situation is considerably more complex and controversial than Trump’s celebratory description suggests, with international condemnation (from Brazil, Colombia, Mexico, Cuba, Russia, China), at least 80 deaths including civilians, and ongoing political instability with Vice President Delcy Rodríguez now serving as acting president under U.S. influence.
Trump reported speaking with “the president of Venezuela” (referring to new Venezuelan leadership following the operation), stating: “We’re getting along really well with them. The relationships have been very strong, very good.” He described Venezuelan security as “very strong” and announced that major oil companies are “going to Venezuela now, scouting it out and picking their locations.”
The president emphasized this will “be bringing back tremendous wealth for Venezuela and for the United States. And the oil companies will do fine, too. Venezuela will actually make for themselves more money than they’ve ever made before.” He described celebrations in Venezuela where “people… were literally in the streets waving American flags, they were so happy,” along with celebrations in “the Doral section of Miami, which is considered Little Venezuela.”
Middle East Peace Efforts
Special Envoy Witkoff reported on multiple Middle East initiatives. He stated that all remaining hostages, including bodies, have been returned, explaining: “We got the 20. But remember, we got hundreds back previous to that.” Witkoff emphasized that retrieving the final hostages was considered extremely difficult: “I always said getting those last 20 back is going to be very tough.”
Witkoff described establishing “for the first time… on your behalf, a technocratic… all Arab government” in Gaza, with “terrorists out of there. And they’re going to demilitarize.” Trump interjected to confirm: “Now we want to get Hamas no guns, right?” Witkoff responded: “They’re going to give up the AK 47s.”
On Russia-Ukraine negotiations, Witkoff reported: “The Ukrainians actually said that we’ve made more progress since Geneva than they’ve seen in the last four years of that conflict.” He described meeting with “five Russian generals last Sunday in Abu Dhabi” alongside Jared Kushner and Dan Driscoll, stating: “We think we made a lot of progress. The talks will continue in about a week.”
Witkoff outlined “a security protocol agreement that’s largely finished, a prosperity agreement that’s largely finished,” expressing confidence that “the people of Ukraine are now hopeful and expectant that we’re going to deliver a peace deal sometime soon.”
Trump personally requested President Putin not to fire on Kyiv and Ukrainian cities for one week during the extreme cold weather. Trump stated: “A lot of people said don’t waste the call. You’re not going to get that. And he did it. And we’re very happy that they did it.” He emphasized the severity of conditions: “In Ukraine you can add another 20 percent” to already extreme U.S. cold temperatures.
Crime and Border Security
Trump announced that “the murder rate in our country is the biggest drop ever recorded. It’s at the lowest level in 125 years. First in recorded history.”
FACT-CHECK VERIFIED: The Council on Criminal Justice released a report on January 23, 2026 showing that murders dropped 21% in 2025 compared to 2024, marking the largest single-year percentage drop on record. The report projects the 2025 murder rate may be the lowest since 1900 (approximately 125 years), with an estimated rate of 4.0 per 100,000 residents when FBI data is finalized. However, Trump’s attribution of this decline entirely to his policies oversimplifies causation, as the murder rate has been declining since 2023, predating his second term.
Trump attributed this partly to removing dangerous individuals from the country: “We’ve taken a lot of bad people and gotten them out of our country. In some cases, they’re so bad that we put them in prison because we don’t want them to even take a chance of coming back in.”
On border security, Trump claimed “we had zero illegal aliens being admitted into our country for the last eight months.”
FACT-CHECK – UNVERIFIABLE AND IMPLAUSIBLE: This claim is extremely difficult to verify and appears implausible given the length of the U.S.-Mexico border and normal operational challenges. No authoritative data source has confirmed this specific claim.
Trump announced aggressive action against maritime drug trafficking: “As you know, it’s 97 percent down by water. So, the drugs coming in by sea or by water… is down 97 percent.”
FACT-CHECK – UNVERIFIABLE: No independent data source has confirmed this specific 97% reduction figure for maritime drug interdiction.
Trump explained that boats carrying drugs receive the same treatment as Somalian pirates: “Each boat that comes in with drugs on it that we take out, we just saved 25,000 American lives.”
On Somalian piracy, Trump stated: “We notified them a number of months ago. Anybody that does… gets the same treatment as a drug dealer.” The result: “We haven’t seen anybody going out. So, the traffic is not being interfered with by people pirating our ships… You used to have ships being taken every single — like two or three a week… the pirating has essentially stopped.”
Energy Policy and Grid Infrastructure
Energy Secretary Wright reported that “United States oil production today is greater than Saudi Arabia and Russia combined” and “our natural gas production today is greater than Russia, China and Iran combined.” He emphasized that Interior Secretary Burgum has taken in “more money on oil and gas lease sales in the first year of this administration than the entire four years of the Biden administration.”
Wright highlighted coal’s critical role during the extreme cold snap: “Six new coal leases under this first year of this administration… and coal production is growing again in the United States after years of decline.” He stated that “hundreds of American lives have been saved because of your leaning in and stopping the killing of coal.”
During peak demand, Wright reported that coal “delivered 20 times more electricity than solar and batteries” and provided 25 percent of electricity during high demand periods. He contrasted this with renewable performance: “In New England… wind, solar and batteries… delivered less than 3 percent of the electricity needed at peak demand time.”
Wright stated that 17 gigawatts of coal generation plants were prevented from closing, which would have resulted in “significant blackouts” and “at least hundreds of deaths” based on previous cold weather events. He referenced a storm during the Biden administration where “over 200 people died in a smaller cold snap.”
Trump explained his administration’s approach to powering AI facilities and large industrial plants: “When they build their building, they build their own electric generating plants.” This addresses the limitation that “we have an old grid… can’t be much expanded.” Trump stated companies can “use nuclear… oil and gas… coal… whatever they want. I think many are choosing oil and gas because it’s there.”
The president directly challenged reports of falling behind China: “I read an article in the Wall Street Journal saying, oh, we’re falling behind China. We’re not actually — we’re leading everybody because I’m letting them build.” He emphasized: “If they had to rely on the grid, they wouldn’t have any power.”
Federal Reserve Criticism and Interest Rate Policy
Trump launched sustained criticism of Federal Reserve policy, announcing he would reveal the name of a new Fed Chair “next week.” He stated: “The Fed rates too high, unacceptably high. We should have the lowest interest rate anywhere in the world” because many countries “are successful only because of us because we allow them to have surpluses.”
Trump argued that rates “should be two points and even three points lower. And if it was — each point is the equivalent of I would say $500 billion. So if you have got two points low, you have $1 trillion in savings.” He characterized this as nearly costless: “If you call it just a paper expense, you can do it with a pencil. It’s not cutting, it’s not saying we have to get rid of jobs.”
The president accused current Fed Chair Powell of political bias: “I really do. I believe he’s politically biased because most smart people say it’s not even a question.” He referenced putting out a statement before the Fed meeting expressing these views.
Trump challenged conventional wisdom about the relationship between growth and inflation: “Growth doesn’t have to have any impact on inflation. It can make inflation go down in many cases. So — and you’ve seen that with us. I mean, we’re growing at a much faster rate than anybody thought was possible. We have very controllable inflation.”
He advocated for returning to a system “where when we announce good news, they say that’s great, we can lower interest rates instead of raise interest rates.” Trump criticized the current approach: “Now it’s over the last 15 or so years, if you announce good news, that means they’re going to raise interest rates because they want to kill it.”
The president expressed confidence that “with the help of the Fed with the right choice… we could hit numbers that have never been hit before. We could hit eight, nine, ten” percent GDP growth.
Tax Cuts and Trump Accounts
Trump highlighted multiple tax provisions in what he called the “great Big Beautiful Bill”: “No tax on overtime, no tax on tips and no tax on Social Security.” He also announced a new benefit: “If you buy a car, you go out and borrow money, you get an interest deduction… that’s a first ever.”
Trump stated that “millions of Americans will soon receive record setting tax refunds… with the average refund expected to be over $1,000 higher than it has been at any time.” He contrasted this with Democratic proposals: “If Congressional Democrats had their way, Americans would, right now, be facing the largest tax hike ever… we’re giving you the largest tax cut in history.”
Secretary Bessent reported on Trump Accounts: “We’ve now had a million people sign up for Trump Accounts just this week… We think it will be 25 million families who are eligible.” He noted that Trump’s segment with rapper Nicki Minaj “has a billion hits” on the internet, encouraging Americans to “fill out form 4547, TrumpAccount.gov.”
Housing Policy and Interest Rates
HUD Secretary Turner reported positive housing market developments: “Home sales in December, they rose sharply to their strongest pace in three years” and “the 30-year fixed mortgage rate dipped to multi-year lows, driving monthly payments down for two years at the lowest levels.” He stated that HUD helped “over 1 million people through FHA and Ginnie Mae to be able to buy a home. 500,000 of those were first-time homebuyers.”
Turner announced Trump is “making bold action to ban institutional investors from buying single family homes. Those homes are for the American people.” He also mentioned working with FHFA Director Pulte to “buy $200 billion worth of mortgage-backed securities driving down even more the cost to get a home.”
On Opportunity Zones, Turner reported: “Over 1 million people lifted out of poverty… in Opportunity Zones, 300,000 new units of housing in Opportunity Zones and a 3.4 increase in the value of houses.” Trump gave credit to Senator Tim Scott for the original idea, calling it “one of the most successful programs in the history of our country.”
Turner also announced that HUD is verifying citizenship for all residents: “Every person that lives in HUD funded housing is an American citizen. A blind eye has been turned, prior to us being here… But no more.”
Trump carefully balanced competing housing policy goals, emphasizing: “I don’t want to do anything to knock that down” referring to existing home values. He stated: “We have millions of people that own houses and, for the first time in their life, they’re wealthy because the house is worth $500,000 or $600,000 or more.”
The president reiterated this point later: “I don’t want to drive housing prices down. I want to drive housing prices up for people that own their homes… I want to protect the people that for the first time in their lives feel good about themselves.” He positioned lower interest rates as the solution: “Lower interest rates keep the values up for the people that have housing and lets other people buy housing.”
Los Angeles Wildfire Response and Permitting Crisis
Trump announced sweeping federal intervention in Los Angeles wildfire rebuilding, appointing EPA Administrator Lee Zeldin to oversee permitting. He stated: “I read about a week ago that it’s possible because of what’s happened, whether you declare a national emergency or something… I could put somebody in charge from the federal government. Congratulations, Lee.”
Trump explained the permitting crisis: “We gave it to him so quickly, but they can’t get their permits, they still can’t build… There are like three houses being built out of thousands and thousands.”
FACT-CHECK – MISLEADING: According to Los Angeles county and city data, approximately 3,100 permits had been issued within the Palisades and Eaton fire zones as of January 29, 2026. While rebuilding has been slower than desired, Trump’s claim of “like three houses” is factually incorrect. Survivor advocates told AP that permits are not necessarily the primary obstacle, with many struggling with insurance payouts and funding gaps. California Governor Gavin Newsom responded that local officials are moving at a fast pace and called on Trump to approve the state’s $33.9 billion disaster aid request.
Zeldin contrasted federal efficiency with state/local delays: “Lee and his team gave them the most complicated permit within 20 days. Everybody, every single house that burned down got the federal approval. Unfortunately, it’s well over a year and the state and the city… have been unable to give permits.”
Zeldin detailed the federal response timeline: “When President Trump came into office, he immediately signed an executive order giving EPA 30 days to complete our phase one hazardous material removal… at first, the response was that that was going to be impossible. Good luck trying to get it done, maybe by the summer. But… we got it done in less than 30 days.”
Trump announced an additional incentive: “Give them the house plus a 10 percent bonus. In other words, you get a bonus, you can build your house 10 percent larger. They’ve suffered so greatly. They’ve waited so long and they should be given a bonus.”
SBA Administrator Loeffler reported: “We have 16,000 structures burned. We have put loans out on 12,000 of them for $3.2 billion. More than half of all the disaster money delivered in America went to that area.”
Trump blocked low-income housing development in Pacific Palisades: “They want to build a low-income housing project right in the middle of everything in Palisades. And I’m not going to allow it to happen… We’re not going to allow this guy to build a low-income housing project on top of everything else in the middle of that mess.” He directed Treasury Secretary Bessent: “There’s going to be no financing for low-income housing.”
The president also blamed California water policy for the fires’ severity: “They lost 25,000 homes… they should have allowed the water to come down from the Pacific Northwest, which was very plentiful. But they didn’t do that; they lost 25,000 homes.”
Small Business and Main Street Economy
SBA Administrator Loeffler characterized Trump’s economic policies as ending “Joe Biden and the Democrats’ war on Main Street and hard-working families.” She reported traveling to “10 different states” this month, hearing consistent gratitude from “hard-working families, farmers, small businesses.”
Loeffler stated that “all time small business confidence hit a record under this president last year after the Trump tax cuts” and “all-time small business formation now at 36 million small businesses and a record $100 billion out from SBA.” She emphasized that “98 percent of our manufacturers meet the small business definition, so Ford has 5,000 small manufacturing suppliers.”
Loeffler provided a specific example: Prince Manufacturing in Macon, Georgia has “500 employees machining parts for our defense, our agriculture, our automotive, our aerospace industry. They’re going to hire 500 more people this year because of tariffs, because of the Trump tax cuts and because of SBA lending.”
She identified a key constraint: “The number one problem is they need skilled workers,” which she’s addressing with Labor Secretary Chavez-DeRemer across the administration.
Military Rebuilding and Venezuela Operations
Defense Secretary Hegseth reported on rebuilding military deterrence after what he characterized as failures under the previous administration: “What happened in Afghanistan; what happened in Ukraine, a war that never would have occurred; what happened on October 7th in Israel never would have happened under President Trump.”
Hegseth described recent Venezuela operations as “the most sophisticated, powerful raid, not just in American history. I would say in world history.” He detailed the operational security: “What those men did going downtown, another country, the most secure place in the most secure base in the middle of the night without anybody knowing until those simultaneous bombs dropped three minutes before the helicopters dropped. No other country could coordinate that.”
Trump announced bringing back battleships: “We’re going to be doing something new. We’re bringing back the battleship… the battleships that were building are going to be 100 times more powerful than those beautiful works of art” like the Iowa, Alabama, and Missouri.
Hegseth outlined current military operations: “When President Trump said, we’re not getting a nuclear — Iran, you won’t have a nuclear bomb, he meant it. And we sent those B-2s halfway around the world.” He also confirmed military support for border security and treating drug traffickers “like the al Qaeda of the Western Hemisphere.”
On Iran specifically, Hegseth stated: “We will be prepared to deliver whatever this president expects of the War Department” to ensure Iran does not pursue nuclear capabilities, while keeping options open for a diplomatic deal.
Tariffs and Supreme Court Case
Trump emphasized the national security and revenue benefits of tariffs: “They’ve given us tremendous national security. The power that we have because of that they have given us tremendous strength and national security.” He stated: “We’ve taken in hundreds of billions, even trillions of dollars” through tariff revenue.
The president discussed pending Supreme Court litigation: “We’re waiting and we’re taking in hundreds of billions of dollars. And we don’t want to give it back, number one.” He characterized plaintiffs as “China centric. These are people that are for China, but they’re also outside of the United States. These are countries that have ripped us off for years.”
Trump suggested tariff rates could increase: “You probably saw, I put out a Truth today, and the tariffs could be much steeper. We’re — we’ve been actually very nice about it.” He connected tariffs to the massive investment inflows: “A big part of that $18 trillion that’s coming in is because of tariffs are coming in. They’re building because they don’t want to pay the tariff.”
Secretary Bessent explained the economic multiplier: “The tens of trillions of investments turns into factories construction, which turns into factory jobs, which turns into consumer spending.”
Gene Therapy and Biotech Innovation
HHS Secretary Kennedy reported: “Last month we approved more gene and cell therapies than any time in history. And we’re making this a safe and productive and encouraging ecosystem for biotech so that China does not steal that industry from us.”
Cabinet Room Renovation
Trump opened the meeting by highlighting renovations: “I think you probably noticed the Cabinet room is getting more and more beautiful. You can see the flags behind us of the different forces and the American flag and various others. It’s, I think, quite spectacular. It’s never, never looked this good. And hopefully, we’re going to do work that’s never been as good.”
Social Media Post
President Trump’s first 2026 Cabinet meeting revealed major policy breakthroughs: drug prices dropping 75-90% through agreements with 16 pharmaceutical companies, Venezuela’s commercial airspace reopening after successful military operations, and federal intervention to finally restart Los Angeles wildfire rebuilding after a year-long permitting crisis. Trump announced a new Fed Chair next week and credited coal power with preventing hundreds of deaths during the extreme cold snap.
“Remarks: Donald Trump Holds a Cabinet Meeting at the White House – January 29, 2026.” Factbase/Roll Call, 29 Jan. 2026, [PDF transcript].